Article 597 — Protection of Creditors’ Interests

1/ The overarching principle of proceedings set out in this Book is to protect the legitimate interests of creditors. 2/ In preventive restructuring proceedings, the restructuration plan shall be approved unanimously by all affected creditors. 3/ In reorganization proceedings, the reorganization plan shall be approved by a predetermined qualified majority of affected creditors and the sale of the business as a going-concern shall be approved by a majority of creditors. 4/ In bankruptcy proceedings, the sale of the business as a going-concern in total, or of substantial portion thereof shall be approved by a majority vote of creditors.